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EIA reports a drop in U.S. crude supply for the first time in 11 weeks

The Energy Information Administration reported that domestic crude supplies fell by 7.3 million barrels for the week ended Nov. 30. Supplies had climbed for 10 weeks in a row before the latest decline, according to data from the government agency, which reported the data a day later than usual because of Wednesday's national day of mourning. Analysts surveyed by S&P Global Platts had forecast a decline of 2.39 million barrels, while the American Petroleum Institute on Tuesday reported a climb of 5.4 million barrels. Gasoline stockpiles rose by 1.7 million barrels last week, while distillate stockpiles climbed by 3.8 ... (full story)